Categories: Market Analysis

Ripple Price Analysis/Discussion – 9/5/2015

The prices of ripple coin are currently on the incline as investors and users alike one again delve into the updated technology behind the Ripple Coin. Whilst this has come as a timely rise it may not have come soon enough for those who had initially invested only to find values dip in a matter of months. However the current stable but rapid growth propagated by the markets has allowed Ripple Coin to once again climb the ranks coming in only second to Bitcoin in terms of market cap.

Below is the 7 day trading graph depicting the movement of the Ripple price. As we can see below it seems that the figure of 0.00003 BTC is the main price point providing support and holding up the coins price. We can see how at two points the prices dipped to this level but in both instances prices made a quick climb back up as the markets corrected according to the volume being traded. On a lighter note it can also be seen that the huge increase in volume over the past day on an excess of 300,00$ has resulted in a nother price climb which may be set to continue in accordance to the previous prices earlier in the week.


Speculation

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Well personally I would label the Ripple Coin/Token with a moderate buy label as under current conditions the price is likely to increase by at least a further 5% before the momentum slowls down. I would set a target of at least 0.000037 BTC for the token/coin to achieve before momentum may run out. However as the rally is currently in its early stages anything can happen so please do not invest more than you can afford but hppy trading !

 

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Mark Arguinbaev

I'm a 28 year old cryptocurrency entrepreneur. I was introduced to Bitcoin in 2013 and have been involved with it ever since. Fun Fact: I mined cryptocurrency using my college dorm room's free electricity.

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Mark Arguinbaev

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